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     Employment situation in 4th quarter 2006

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Unemployment

The seasonally adjusted overall unemployment rate was 2.6% in December 2006, a slight decline from 2.7% in September 2006. Despite the recent increase in resident labour supply3 , the resident unemployment rate held steady at 3.6% (seasonally adjusted) since June 2006.

An estimated 69,600 residents were unemployed in December 2006. The seasonally adjusted figure was 68,600.

For the whole year of 2006, overall unemployment rate averaged 2.7%, which is lower than 3.1% in 2005 and the high of 4.0% experienced during the economic slowdown in 2003. Similarly, the resident unemployment rate improved to 3.6% in 2006, from 4.1% in 2005 and 5.2% in 2003. On average, 67,500 residents were unemployed in 2006, down from 74,900 in 2005 and the high of 91,200 in 2003.

　

For More Information

Information on data sources and coverage, as well as definitions of key concepts used in the report is in the attached Explanatory Notes. The preliminary data estimates are available online at the Ministry of Manpower¨s website: http://www.mom.gov.sg/mrsd/publication. A more detailed breakdown of the preliminary estimates will be released in the Economic Survey of Singapore, 2006.

The above is a statistical release of the Manpower Research and Statistics Department of the Ministry.

3 The resident labour supply is estimated to have risen by 93,600 in 2006, up from 51,200 in 2005 and an average of 32,900 per year from 2000 to 2004.

　

Source: www.mom.gov.sg Press Release 31 Jan 2007